ENTERPRISE ASSET MANAGEMENT MARKET INSIGHTS:
Enterprise asset management is a system that is designed to manage the assets of the organization across various department, business units, services and geographies. EAM solutions enhances the operational efficiency of the business by effective asset utilization, consolidation and analyzing the critical information of all type of assets and by ensuring better asset reliability. EAM performs designing, construction, operation and maintenance, commissioning, decommissioning and replacement of assets. The global enterprise asset management market is anticipated to grow with the CAGR of 10.8% during 2017-2022. The major factor that are augmenting the growth of the market was estimated to be rising need of increasing the lifecycle performance of the asset. Furthermore, various benefits offer by enterprise asset management solutions such as improved return on asset, tracking of asset and reduction in the procurement and maintenance cost are estimated to fuel the growth of the market.

In the current scenario, when the industries are investing more in assets and are facing hitches monitoring those assets, Enterprise asset management market solution can play vital role in handling critical asset information and asset management. Health of an asset is crucial and it affects the business process. EAM consolidates all the relevant information of the all the asset and analyzes the critical information to ensure optimum utilization of the assets in the organization. EAM reduces the operational and maintenance costs and thus improves the overall return on asset.

However, there are certain challenges that are affecting the growth of the EAM market across the globe. High cost of deployment, lack of awareness are estimated to be the major constraints in the growth of the market. Besides these petty challenges, EAM market is yet to explore its full potential in the global market. Increasing adoption of cloud based services and integration of EAM with the big data analytics are developing numerous expansion opportunities for the growth of the EAM market.

GEOGRAPHICAL INSIGHTS:
Global enterprise asset management market is analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. On the basis of the geography, market is segmented into North America, Europe, Asia Pacific and Rest of the World. North America is estimated to account for major share in the global EAM market owing to early adoption of the enterprise asset management solution. Presence of key players such as IBM and Oracle are also estimated to the major factor that is backing the growth of the market. Furthermore, high penetration of cloud based services in North America is also one of the major factors that is driving the growth of the market. Asia Pacific is estimated to be the fastest growing region during the forecast period owing to rising adoption of the EAM in the SMEs in the Asia Pacific region.